3. What is Patnode's total debt to equity ratio at the end of 2014 (rounded...
90.2K
Verified Solution
Link Copied!
Question
Accounting
3. What is Patnode's total debt to equity ratio at the end of 2014 (rounded to two decimal places)? 5.30 0.19 0.25 4.04 Patnode, Inc. Comparative Balance Sheet Note that amortization of the license asset has been shown as a separate line item only for ease of calculations. Dec 31, 2014 Dec. 31. 2015 Change Dec. 31. 2014 Dec 31, 2015 Change $ 34,000 22,000 18,000 $ 74,000 $ 41,000 25.000 12,000 $78,000 $7,000 3,000 (6.000) $ 4,000 Liabilities Current Liabilities Accounts payable Taxes payable Short-term debt Total current liabilities Owners' Equity Common stock Retained earnings Total Liabilities & Owners' Equity $ 13,000 7.000 10,000 $ 30,000 $ 12,000 9,400 15,000 $36.400 Assets Current Assets Cash Accounts receivable Merchandise inventory Total current assets Non-Current Assets Machinery, at cost Less: Accumulated depreciation Machinery, net License, at cost Less: Amortization License, net Total Assets $-1,000 2.400 5,000 $6,400 15,000 3,000 12,000 $ 15,000 3,000 - 12,000 $ 10,000 3,000 7,000 $ 97,000 19,000 34,000 $ 83,000 $ 10,000 1,000 22,000 38,800 $ 97,000 3.000 4,600 $14,000 9,000 2,000 (2.000) $ 14,000 $ 83,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
